I was getting my burger and fries fix the other day when it occurred to me: Why doesn't Mr. Buffett take a bite out of a burger company with the simplest menu on the planet - In N Out?
In N Out is an Irvine-based privately owned and operated fast-food restaurant chain in the Western United States. Founded in 1948 by Mr. Harry Synder and his wife Esther, the Irvine-based chain is known for its clean white restaurants, simple menu of fresh made-to-order burgers, fries and shakes, and its hidden menu (animal style, 4x4, extra crispy fries, and so on).
In N Out has a rabid customer base. Some of my friends have driven 30 minutes from their high tech jobs in the middle of the night just to satisfy their munchies. Considering how expensive gas is these days, and how many McD's stay open late, those munchies become expensive habits indeed!
Of course, in order for Mr. Buffett to buy, the family still needs to sell. It takes two to tango, of course, and Berkeshire never likes to force anyone to dance with it.
Secondly, I'm not sure if In N Out is a large enough acquisition target. At 200B in market cap, perhaps In N Out is, forgive the pun, small fry...
$109300.0 (01/10/07)
